U of C alum donates $20 million for science

(Crain's) -- A University of Chicago alumnus who founded two futures trading firms has donated $20 million to his alma mater to beef up its physical sciences division.

William Eckhardt earned his master's degree in mathematics from U of C in 1970 and later founded two Chicago-based trading firms. He is currently president and CEO of Eckhardt Trading Co., which he founded in 1991.

"My contribution to the University of Chicago is an investment in science, in the future, in the understanding of our world," Mr. Eckhardt said in a statement.

In return, the U of C is renovating its Research Institutes building and renaming it the Eckhardt Research Institutes building.

"His gift will have a galvanizing impact on the ability of our scientists to carry out their most innovative work," Robert Zimmer, U of C's president, said in the statement.

Part of Mr. Eckhardt's donation will be used to build the Center for Physical and Computational Sciences on the west side of Ellis Avenue between 56th and 57th streets. Construction on that facility is slated to start in 2010.

The funds will also be used to expand U of C's genomics, personalized medicine and neuroscience programs.